Advertisement
Sponsored By
National Bank of Canada
The only thing better than earning rewards for your everyday spending is earning those rewards faster. Here’s how to make the most of your points.
Earning credit card rewards points is one of the best things about using a card, and paying for something with points can be incredibly satisfying. You can have that feeling more often when you’re strategic about collecting rewards. Here are five points-generating credit card habits you’ll want to get into right away.
Everyone has expenses. The trick is to figure out how to earn rewards on the purchases you’re already making. Your best bet is to pick a card that offers boosted earn rates in the categories you spend the most in. For many Canadians, the top spending categories are groceries and gas, so paying with a card like the National Bank World Elite Mastercard can reap a lot of points.
Let’s say your family spends around $1,000 per month on groceries and about $250 on gas. If you paid for these purchases with the National Bank World Elite Mastercard, you could earn up to 5,500 points per month—that’s 66,000 points per year just in those two categories. With 66,000 points, you could redeem for tech merchandise (like a smartwatch or tablet) or pay down your National Bank of Canada mortgage, for example.
Here’s how it works: The amount of points earned on grocery and restaurant purchases depends on the total gross monthly amount charged to the credit card account, regardless of the purchase category. You will earn five points for every dollar in eligible grocery and restaurant purchases until a total of $2,500 in gross monthly purchases is charged to the account. After that, you’ll earn two points per dollar in eligible grocery and restaurant purchases. (The total gross monthly amount is calculated based on your monthly billing period.)
There’s more to bills than groceries and gas, of course, so choose a card that rewards more of your other purchases. When you use your National Bank World Elite Mastercard to pay your restaurant bill, you could earn up to five points per dollar. Plus, with a base rate of one point per dollar spent on your card in other categories, your rewards will rack up quickly.
If you’re like most Canadians, you’ve got a bunch of bills that show up each and every month, including services like your phone plan and subscriptions to streaming services. Get something back for your monthly bills by setting up automatic payments with your National Bank World Elite Mastercard. You’ll get two points per dollar for recurring payments, and you’ll never have to worry about missing a payment.
When you add a cardholder to your account, all their rewards points add up along with yours in the same account, so you reach your rewards goals faster. This can be a terrific option for spouses, for example. Each person will have their own card with their own PIN, but all transactions are charged to the same account. With the National Bank World Elite Mastercard, the annual fee for each additional card is only $50 per year.
Using a credit card is a convenient and secure way to pay for travel—and it can also let you earn rewards points. With the National Bank World Elite Mastercard, you’ll get two points per dollar spent on any travel you book through the À la carte Travel portal. Plus, every year you’ll get a travel credit of up to $150 to reimburse eligible expenses charged to your card, including flight upgrades, seat selection, airport parking, extra checked bags and access to airport lounges. And, with the included travel insurance on this card, you’ll be all set for your next journey. (Insurance coverage is limited to specific amounts. Please read the full insurance details.)
Now that you’ve racked up the rewards points, you might be wondering what to do with them. You can redeem points for travel and experiences or merchandise and gift cards. Visit the online rewards portal to browse. Or, you can choose financial rewards like putting your points towards your card balance, into a National Bank of Canada tax-free savings account (TFSA) or registered retirement savings plan (RRSP), or towards your National Bank of Canada mortgage.
Merchandise, travel and even mortgage payments. Credit card rewards points can be extremely powerful. Earn more and do more by being consistent and strategic about collecting them. Whatever your rewards goals are, these credit card habits will help you achieve them faster.
This is a paid post that is informative but also may feature a client’s product or service. These posts are written, edited and produced by MoneySense with assigned freelancers and approved by the client.
® Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank.
® National Bank and À la carte rewards are registered trademarks of National Bank of Canada.
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Why Canadians are still feeling the squeeze of high food costs, and what to do about it.
The Trump effect and Trumponomics, Shopify’s huge earnings beat, it’s sunny days for Suncor shareholders and more.
Each of these cards offers a suite of features to help you worry less on your next trip, from...
From redeemable points to cold hard cash, these credit cards offer big rewards on your everyday spending.
These cards offer super-low introductory rates for balance transfers.
Whether you’re looking for points or cash back, these cards will help you earn benefits from your fuel expenses.
Here’s how to get your free ticket to attend two MoneyShow virtual expos.
If you’re one of the many Canadians looking for Black Friday and Cyber Monday discounts, here’s how to know...
